DTN Early Word Opening Livestock 12/31 06:41

DTN Early Word Opening Livestock 12/31 06:41 Tuesday Represents the End of a Wild Trading Year As 2019 comes to a close, traders focus on the extreme volatility seen during the year, with hopes of more consistency and stronger market support during early January. Limited volume is likely to leave markets subdued as traders leave the market in search of New Year's Eve activities. By Rick Kment DTN Analyst Cattle: Steady Futures: Mixed Live Equiv $139.84 +0.45* Hogs: Steady Futures: Mixed Lean Equiv $79.63 -- 0.29** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Limited activity has been seen and is expected to be seen through Tuesday in cash cattle markets. Although it is no surprise that very little interest was shown in cash markets Monday, the midweek holiday is likely to delay any significant developments in cash market trade until the last half of the week. Although some cattle may be priced, and there could be a few bids floated before the end of the day, both sides appear to be content with cattle sold through the end of 2019, and are willing to push any significant business into early 2020. The firming tone in the market through the end of the year and expectations that supplies will continue to tighten over the coming weeks is likely to point to steady to higher cash values at the end of the week. But limited overall holiday volume may still subdue most traders interest. Futures trade is expected to wander in a narrow to moderate trading range as traders seem to have one foot already out the door, with limited interest of causing any significant market shift before the end of the year. This should leave markets generally quiet through most of the session. Tuesday slaughter runs are expected near 91,000 head as packers head into the holiday break.